A Question of Tax
Ladies & Gents,
I am a UK 40% tax payer and possibly have the opportunity of doing a little work on contract over next winter. The problem is although the proposed gross salaries are great, when you take off the 40% etc, it soon becomes unfeasible.
Having said this, it has been suggested to me that an offshore account should be opened as the monies paid into there would only be subject to 15% or so tax. Seems to be too good to be true as I wonder how I can then get the money out of the Isle of Man to pay my mortgage, Wife's shoe bill etc without encountering any more tax.
Of course I can go to an accountant and probably will in the near future, but I am wondering if there has been a UK citizen in the recent past who has done contract work over the winter and who has also come up with any interesting tax scenarios? Legal of course!! I should say I have no interest at the moment of becoming an ex pat and hence non uk tax payer. This would be a few months work over the winter only.